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The Biden administration has argued that the previous definition, which was written in 1975, is outdated and has not kept pace with changes to the retirement landscape. “These new rules update ...
In fact, it could help workers keep as much as $5 billion of their own money each year related to one insurance product alone, according to the Council of Economic Advisers. Called the fiduciary ...
On March 29, the House of Representatives voted 414-5 in favor of the Securing a Strong Retirement Act of 2022. If passed by the Senate, and then signed into law by President Joe Biden, the act ...
It took President Joe Biden 789 days in office before he finally issued his first veto, and it could prove to be an important one in terms of both retirement savings and future investment ...
Updated December 25, 2022 at 1:03 PM. Nestled inside the $1.7 trillion government spending bill, which has passed Congress and is headed to President Biden's desk for a signature, is a suite of ...
Savers 50 or older can kick in an additional $1,000 per year, raising the annual limit to $7,500. Workers contributing to 401 (k) plans also will see increases in their contribution limits for ...
Advice to plan sponsors about which investments to make available as options in 401(k)s and other employer-sponsored plans: Currently, there is no requirement that the investment products made ...
The economic policy of the Joe Biden administration, dubbed Bidenomics (a portmanteau of Biden and economics ), is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals and corporations.